Kelly Services (NASDAQ:KELYA) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.34 and traded as high as $11.69. Kelly Services shares last traded at $11.66, with a volume of 644,949 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on KELYA. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings downgraded Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Barrington Research reduced their target price on Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kelly Services has a consensus rating of “Hold” and a consensus target price of $15.00.

Kelly Services Trading Up 3.7%

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $9.47 and a 200-day moving average of $9.34. The stock has a market cap of $404.25 million, a PE ratio of -1.53, a price-to-earnings-growth ratio of 0.85 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%. On average, analysts anticipate that Kelly Services, Inc. will post 1.01 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Kelly Services’s dividend payout ratio is currently -3.95%.

Insiders Place Their Bets

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.78, for a total transaction of $293,390.22. Following the transaction, the executive vice president owned 82,355 shares of the company’s stock, valued at $805,431.90. This represents a 26.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher D. Layden purchased 10,100 shares of Kelly Services stock in a transaction on Tuesday, March 24th. The shares were acquired at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the purchase, the chief executive officer owned 382,513 shares in the company, valued at approximately $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KELYA. AQR Capital Management LLC lifted its stake in shares of Kelly Services by 24.3% during the 1st quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock worth $4,916,000 after purchasing an additional 73,040 shares during the period. Millennium Management LLC lifted its stake in shares of Kelly Services by 8.5% during the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after purchasing an additional 93,026 shares during the period. Empowered Funds LLC lifted its stake in shares of Kelly Services by 4.2% during the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after purchasing an additional 8,562 shares during the period. Quantbot Technologies LP lifted its stake in shares of Kelly Services by 16.0% during the 2nd quarter. Quantbot Technologies LP now owns 29,357 shares of the business services provider’s stock worth $344,000 after purchasing an additional 4,043 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Kelly Services by 1.5% during the 2nd quarter. Invesco Ltd. now owns 472,191 shares of the business services provider’s stock worth $5,529,000 after purchasing an additional 6,876 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.